1.

Shruti maintains her books of account from Incomplete Records. Her books provide the following information: 1st April, 2015 (₹) 31st March, 2016 (₹) Cash 1,200 1,600 Bills Receivable … 2,400 Debtors 16,800 27,200 Stock 22,400 24,400 Investments … 8,000 Furniture 7,500 8,000 Creditors 14,900 11,600 She withdrew ₹ 500 per month for personal expenses. She sold her Investments of ₹ 16,000 at 5% premium and introduced the amount into business.You are required to prepare a Statement of Profit or Loss for the year ending 31st March, 2016.

Answer» Shruti maintains her books of account from Incomplete Records. Her books provide the following information:






















































 1st April, 2015

(₹)
31st March, 2016

(₹)
Cash
1,200
1,600
Bills Receivable
…
2,400
Debtors
16,800
27,200
Stock
22,400
24,400
Investments
…
8,000
Furniture
7,500
8,000
Creditors
14,900
11,600



She withdrew ₹ 500 per month for personal expenses. She sold her Investments of ₹ 16,000 at 5% premium and introduced the amount into business.

You are required to prepare a Statement of Profit or Loss for the year ending 31st March, 2016.


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